Maria is the beneficiary of a $700,000 insurance policy on her husband's life. Maria elects to receive $150,000 per year for 5 years rather than receive the entire $700,000 in a lump sum. A. All $150,000 received each year is tax free B. Only $10,000 of the amount received each year is taxable C. Only $10,000 of the amount received each year is tax free

D. All $150,000 received each year is taxable E. Only $100,000 of the amount received in the first year is tax free but all payments in years 2 through 5 are taxable